3 signs you’re ready to be a contractor

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Like any decision, choosing to become a contractor is not one to go into lightly. However, by doing thorough research into the multitude of benefits on offer, you’ll soon see why you should make the leap.

Of course, taking a potentially life-changing step into the unknown takes courage and determination, so it’s essential that you’re ready for the challenge.

But how do you know when you’re ready to become a contractor? Here are our top three signs to look out for:

You've amassed a wealth of skills and experience

If you’ve managed to accumulate a varied skill set during your time as a “permie”, this will give you an advantage in your contracting career. Many companies are now turning to contractors to fill talent gaps, so possessing specialist skills will open the door to great assignment opportunities.

You may also feel that you are unable to develop any further in your current permanent role, leaving you frustrated and constricted. In contrast, contracting presents the opportunity to diversify into a number of niche areas within your industry.

Indeed, contractors who specialise in niche and sought after skills have the potential to command a higher rate of pay, while they should also have no trouble securing new assignments.

The permanent lifestyle isn’t working for you

People can get stuck in a rut, but if your current “permie” role is just not working out, it may be time to try something new. Do you feel that there’s nowhere for you to go in the job you’re doing? Perhaps you can see yourself following a linear path that you just don’t want to go down.

Contracting allows you to experience a wealth of different assignments during the course of your career. Indeed, you’d be hard pressed to find two projects that are exactly the same.

There’s no end to the possibilities on offer either, as contractors can choose to specialise in whatever areas they desire. This gives them the opportunity to become masters of their own destiny, something the “permie” lifestyle struggles to provide.

You want to be earning more

Research has shown that contractors continuously earn more money than their counterparts in permanent employment, due to their enhanced skills and expertise.

As mentioned earlier, contractors who specialise in sought after niche areas can enhance their pay even further. This is because clients are desperate to gain short term access to key skills, and are willing to pay a premium to do so.

What’s more, contractors can further boost their take home pay by claiming legitimate business expenses, a privilege not afforded to permanent employees.

Have your say

Are you a contractor? What signs told you it was time to make the leap? Join in the discussion on Twitter, or leave a comment below.